Bridgeless Ethereum (II): Unified Margin
In the previous article we introduced a based orderbook deployed on Ethereum as a based rollup, and an L1 lending protocol that acts as its risk engine for handling multiple collateral assets. In this piece we examine the lending protocol in depth and show how closer integration with the based orderbook can improve capital efficiency even further. The end goal: Unified margin across Ethereum.CDP Is All You NeedCollateralized Debt Position (CDP) underpins the largest lending and decentralized ...
Bridgeless Ethereum (II): Unified Margin
In the previous article we introduced a based orderbook deployed on Ethereum as a based rollup, and an L1 lending protocol that acts as its risk engine for handling multiple collateral assets. In this piece we examine the lending protocol in depth and show how closer integration with the based orderbook can improve capital efficiency even further. The end goal: Unified margin across Ethereum.CDP Is All You NeedCollateralized Debt Position (CDP) underpins the largest lending and decentralized ...
Bridgeless Ethereum (I): Based Orderbook
An interesting narrative on perp DEXs and Ethereum DeFi is quietly unfolding. It began with Tarun, who sketched a compelling vision in which DeFi positions on Ethereum L1 (e.g., vault shares in Morpho) can be used directly as collateral to back perp trades on L2 perp DEXs like Lighter, enabled by ZK proofs of position value on L1 and liquidation data on L2. It was further specified by jaehaerys into a concrete blueprint for achieving “just-in-time bridging” or “bridgeless collateralization” b...
Bridgeless Ethereum (I): Based Orderbook
An interesting narrative on perp DEXs and Ethereum DeFi is quietly unfolding. It began with Tarun, who sketched a compelling vision in which DeFi positions on Ethereum L1 (e.g., vault shares in Morpho) can be used directly as collateral to back perp trades on L2 perp DEXs like Lighter, enabled by ZK proofs of position value on L1 and liquidation data on L2. It was further specified by jaehaerys into a concrete blueprint for achieving “just-in-time bridging” or “bridgeless collateralization” b...
Proof System for Pre-Settlement
In pre-settlement, and its implementation LingLong, commitments are fundamental. In this article, we introduce the proof system behind those commitments and explain how we achieve optimal performance using Succinct's SP1.A Recap of Pre-SettlementPre-settlement is a commitment framework that enables Ethereum validators to delegate their based rollup sequencing rights to third parties. Its implementation, LingLong, functions as a PBS (Proposer-Builder Separation) platform for based rollups...
Proof System for Pre-Settlement
In pre-settlement, and its implementation LingLong, commitments are fundamental. In this article, we introduce the proof system behind those commitments and explain how we achieve optimal performance using Succinct's SP1.A Recap of Pre-SettlementPre-settlement is a commitment framework that enables Ethereum validators to delegate their based rollup sequencing rights to third parties. Its implementation, LingLong, functions as a PBS (Proposer-Builder Separation) platform for based rollups...
LingLong: Pre-Settle Ethereum
Ethereum Scaling Challenges and the Based Rollup SolutionEthereum's rollup-centric approach has built a $30B L2 ecosystem, yet concerns over fragmentation and a diminished L1 value proposition grow. Scaling the L1 is a much needed short term solution. However, in the long term, expecting a single virtual machine on every node to support global-scale finance and applications is unrealistic without compromising decentralization. We still need rollups.The Core ProblemHow to scale Ethereum v...
LingLong: Pre-Settle Ethereum
Ethereum Scaling Challenges and the Based Rollup SolutionEthereum's rollup-centric approach has built a $30B L2 ecosystem, yet concerns over fragmentation and a diminished L1 value proposition grow. Scaling the L1 is a much needed short term solution. However, in the long term, expecting a single virtual machine on every node to support global-scale finance and applications is unrealistic without compromising decentralization. We still need rollups.The Core ProblemHow to scale Ethereum v...
Luban Unveils Blob Futures: Pre-Settle Blobs on Ethereum
Problems in Ethereum’s Blob MarketSince November 2024, Ethereum’s blob market has stabilized at an average of 3 blobs per block, aligning with EIP-4844 goals. However, blob prices remain highly volatile—hovering at lows during periods of inactivity and spiking even up to 10 billion times higher during peak demand. Furthermore, blobs contain significantly more data than regular L1 transactions, leading to larger block sizes and slower block submission. In the current PBS (Proposer-Builder Sepa...
Luban Unveils Blob Futures: Pre-Settle Blobs on Ethereum
Problems in Ethereum’s Blob MarketSince November 2024, Ethereum’s blob market has stabilized at an average of 3 blobs per block, aligning with EIP-4844 goals. However, blob prices remain highly volatile—hovering at lows during periods of inactivity and spiking even up to 10 billion times higher during peak demand. Furthermore, blobs contain significantly more data than regular L1 transactions, leading to larger block sizes and slower block submission. In the current PBS (Proposer-Builder Sepa...
